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The post <a href="https://coinpedia.org/price-analysis/dot-price-breakthrough-signals-40-hike-potential/" rel="noopener noreferrer nofollow">DOT Price Breakthrough Signals 40% Hike Potential!&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Ranking amongst the top gainers in the top 100 altcoins, the DOT price recovers sharply with the market-wide sentiments on the rise. The Bitcoin Spot ETF approval brings the long-awaited bullish tide, resulting in the Polkadot price rechallenging the $8.35 resistance.&nbsp;
With the buyers ready to hoard more of altcoins at a time like this signals a strong bull run possibility in 2024. Therefore, with the improving sentiments and the growing market, the <a href="https://coinpedia.org/price-prediction/polkadot-price-prediction/" rel="noopener noreferrer nofollow">Polkadot price prediction</a> signals a further recovery.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="471" src="https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-1024x471.png" alt="" class="wp-image-260297" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-1024x471.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-300x138.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-768x353.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-1536x707.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52-150x69.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/11112510/DOTUSD_2024-01-11_10-32-52.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/Jduv9phM/" rel="noopener noreferrer nofollow">Tradingview</a>
In the weekly chart, the DOT price shows a remarkable trend reversal with a falling channel breakout. The breakout rally unleashes the trapped bullish momentum and results in a jump to $8.35 ceiling from the low of $3.56.&nbsp;
However, the short-term consolidation eventually leads to a brief pause and an evening star pattern. Nevertheless the. Support from the 50-week EMA and the recent market recovery changes the dynamic.&nbsp;
At press time, the DOT price trades at $ 8.20 and shows a weekly growth of 18.84%, leading to a strong bullish candle. Thus, the buyers are teasing a potential breakout of the $8.35 resistance level.&nbsp;
Technical Indicators:
MACD indicator: The MACD and signal lines maintain a bullish trend despite the weakness in the positive histograms.&nbsp;However, the recent spike hints at a potential resurgence in trend momentum.
EMA: The 50W EMA provides dynamic support to the DOT price and helps sustain the uptrend.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-dot-price-breakout-run-10">Will The DOT Price Breakout Run $10?</h2>
As we enter a bullish 2024, altcoins are taking off, and DOT is shifting gears to a bullish expressway. Polkadot’s price is on the cusp of a breakout rally, targeting the $8.35 milestone with sights set on the $10 mark.&nbsp;
On the flip side, should a downturn occur, it’s poised to test the 50W EMA or possibly dip to $6.

DOT Price Breakthrough Signals 40% Hike Potential!

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